Financial Accounting for TourismLaajuus (5 cr)

Objective

Having taken the course you understand the role and meaning of financial accounting particularly in hospitality business. You know the processes of hospitality company from the accounting point of view and understand how bookkeeping and financial statements are drawn up on the basis of these processes. You can analyse the company’s financial performance and communicate it to different stakeholders.

Content

The course contents covers business skills, business processes (customers, products/services, purchases, sales), recording of business transactions, financial statements, the basics of value added taxation and company taxation, key ratios of hospitality business and communication of financial information and performance.

Assessment criteria, satisfactory (1)

Adequate 1
You can name the financial accounting processes of a micro-company and are able to take care of the most essential tasks of these processes for example basic level bookkeeping entries. You can apply the information with guidance and with more detailed instructions. You take responsibility for your own work. .

Satisfactory 2
You can present the processes of a micro-company from the perspective of financial accounting and you identify the impact of business transactions on financial statements on a general level. You are able to follow the schedule.

Assessment criteria, good (3)

Good 3
You can outline the processes of a small company from the perspective of financial accounting and specify how the processes are based on practical doing. You take care of the essential tasks of these processes flawlessly. You know the impact of business transactions on financial statements as regards profitability, finance and solvency. You are able to follow the schedule.

Very good 4
You can evaluate the processes of a small company from the perspective of financial accounting and argue how bookkeeping and financial statements are drawn up from these processes. You can plan actions to improve profitability and know the basics of VAT and the elements affecting the finance and solvency of a company on a general level. You are able to follow the schedule.

Assessment criteria, excellent (5)

Excellent 5
You can plan the processes of a small company from the perspective of financial accounting and argue how bookkeeping and financial statements are drawn up from these processes. You can actively plan actions to impact direct taxation, profitability, finance and solvency of a company. You can guide others’ work. You are able to follow the schedule.